Karandaaz gains GCF Direct Access status at Songdo meeting
The national impact investment platform can now access and channel GCF climate finance for projects tied to Pakistan’s climate plans and green taxonomy.
Karandaaz Pakistan was accredited by the Green Climate Fund Board at its 46th meeting in Songdo, South Korea.
Direct Access status lets Karandaaz access, blend and channel global climate finance inside Pakistan.
Funded work is to align with Pakistan’s Nationally Determined Contributions, National Adaptation Plan and Green Taxonomy.
Karandaaz says it will mobilise private capital and de-risk climate-smart investments for vulnerable sectors.
GCF and Karandaaz leaders said the partnership should expand finance for low-emission, climate-resilient development.